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1702 Hermosa Ave 10 Unit Apartment Building $8,995,000 ($899,500/Unit) 2.61% Cap Rate Hermosa Beach, CA 90254
Investment Highlights
- $1,000,000 Price Reduction
- Complete Rehab & Renovation of Exterior & Interior in 2023, 2024 & 2025
- Priced well below Hermosa Beach condominium & single-family homes located in a high-barrier to entry market with exceptional tenant demand
- Rare Oceanview Income Property on Hermosa Avenue
- New: Roof, Plumbing, Sub-Panels, Water Heaters, Kitchens, Bathrooms, Appliances Wiring, Windows & More
- Ocean views and minutes to sand, surf & Pier Avenue’s renowned dining and retail
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$388,116
|
$70.32
|
| Other Income |
$1,709
|
$0.31
|
| Vacancy Loss |
$7,762
|
$1.41
|
| Effective Gross Income |
$382,063
|
$69.23
|
| Taxes |
$97,989
|
$17.75
|
| Operating Expenses |
$43,805
|
$7.94
|
| Total Expenses |
$141,794
|
$25.69
|
| Net Operating Income |
$240,269
|
$43.53
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $388,116 |
| Annual Per SF | $70.32 |
| Other Income | |
|---|---|
| Annual | $1,709 |
| Annual Per SF | $0.31 |
| Vacancy Loss | |
|---|---|
| Annual | $7,762 |
| Annual Per SF | $1.41 |
| Effective Gross Income | |
|---|---|
| Annual | $382,063 |
| Annual Per SF | $69.23 |
| Taxes | |
|---|---|
| Annual | $97,989 |
| Annual Per SF | $17.75 |
| Operating Expenses | |
|---|---|
| Annual | $43,805 |
| Annual Per SF | $7.94 |
| Total Expenses | |
|---|---|
| Annual | $141,794 |
| Annual Per SF | $25.69 |
| Net Operating Income | |
|---|---|
| Annual | $240,269 |
| Annual Per SF | $43.53 |
Property Facts
| Price | $8,995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $899,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 2.61% | Building Size | 5,519 SF |
| Gross Rent Multiplier | 23.1 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1953/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.99/1,000 SF |
| Zoning | R3, Hermosa Beach | ||
| Price | $8,995,000 |
| Price Per Unit | $899,500 |
| Sale Type | Investment |
| Cap Rate | 2.61% |
| Gross Rent Multiplier | 23.1 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 5,519 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1953/2023 |
| Parking Ratio | 1.99/1,000 SF |
| Zoning | R3, Hermosa Beach |
Amenities
Unit Amenities
- Balcony
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 550 - 650 |
| 2+1 | 4 | - | 670 |
1 1
Walk Score®
Walker's Paradise (94)
Bike Score®
Very Bikeable (72)
Property Taxes
| Parcel Number | 4183-010-011 | Total Assessment | $6,267,158 |
| Land Assessment | $6,151,102 | Annual Taxes | $97,989 ($17.75/SF) |
| Improvements Assessment | $116,056 | Tax Year | 2025 Payable 2026 |
Property Taxes
Parcel Number
4183-010-011
Land Assessment
$6,151,102
Improvements Assessment
$116,056
Total Assessment
$6,267,158
Annual Taxes
$97,989 ($17.75/SF)
Tax Year
2025 Payable 2026
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1702 Hermosa Ave
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